Evan/ Fa Jones Sells 43,196 Shares of Veracyte (NASDAQ:VCYT) Stock

Veracyte, Inc. (NASDAQ:VCYT) Director Evan/ Fa Jones sold 43,196 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $45.06, for a total transaction of $1,946,411.76. Following the sale, the director owned 30,468 shares in the company, valued at approximately $1,372,888.08. This trade represents a 58.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Veracyte Trading Up 0.0%

Shares of Veracyte stock traded up $0.01 during trading hours on Friday, reaching $41.70. 1,160,500 shares of the company’s stock were exchanged, compared to its average volume of 1,114,577. Veracyte, Inc. has a 52-week low of $22.61 and a 52-week high of $47.32. The company has a fifty day moving average of $34.36 and a 200-day moving average of $30.02. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 126.37 and a beta of 2.16.

Veracyte (NASDAQ:VCYT) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The firm had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Veracyte has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veracyte

Several institutional investors have recently bought and sold shares of VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Veracyte in the second quarter worth $25,000. First Horizon Corp acquired a new position in shares of Veracyte during the 3rd quarter valued at $31,000. Osaic Holdings Inc. boosted its position in Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 893 shares during the period. Headlands Technologies LLC acquired a new stake in Veracyte in the 1st quarter valued at $48,000. Finally, Covestor Ltd increased its holdings in Veracyte by 23,936.4% in the 1st quarter. Covestor Ltd now owns 2,644 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 2,633 shares in the last quarter.

Analyst Upgrades and Downgrades

VCYT has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Veracyte in a research report on Wednesday, October 8th. Canaccord Genuity Group lifted their price target on shares of Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim upped their price objective on Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.